§1373 — Foreign income

30 cases·9 followed·3 distinguished·18 cited—30% support

Statute Text — 26 U.S.C. §1373

(a)S corporation treated as partnership, etc.

For purposes of subparts A and F of part III, and part V, of subchapter N (relating to income from sources without the United States)—

(1)

an S corporation shall be treated as a partnership, and

(2)

the shareholders of such corporation shall be treated as partners of such partnership.

(b)Recapture of overall foreign loss

For purposes of section 904(f) (relating to recapture of overall foreign loss), the making or termination of an election to be treated as an S corporation shall be treated as a disposition of the business.

30 Citing Cases

White v. Commissioner 61 T.C. 763 · 1974

Clark v. Commissioner 58 T.C. 94 · 1972

City of Providence v. US Department of Justice 954 F.3d 23 · Cir.

Robert E. Iles & Monica M. Iles, Petitioners T.C. Memo. 1998-337 · 1998

Danenberg v. Commissioner 73 T.C. 370 · 1979

Ragghianti v. Commissioner 71 T.C. 346 · 1978

Brutsche v. Commissioner 65 T.C. 1034 · 1976

Clairmont v. Commissioner 64 T.C. 1130 · 1975

Roesel v. Commissioner 56 T.C. 14 · 1971

Beirne v. Commissioner 52 T.C. 210 · 1969

Byrne v. Commissioner 45 T.C. 151 · 1965

Villas at Parkside Partners v. City of Farmers Branch 726 F.3d 524 · Cir.

Amorient, Inc. v. Commissioner 103 T.C. 161 · 1994

Flynn v. Commissioner 93 T.C. 355 · 1989

Warrensburg Board & Paper Corp. v. Commissioner 77 T.C. 1107 · 1981

Klein v. Commissioner 75 T.C. 298 · 1980

Asjes v. Commissioner 74 T.C. 1005 · 1980

Tri-City Dr. Pepper Bottling Co. v. Commissioner 61 T.C. 508 · 1974

Beirne v. Commissioner 61 T.C. 268 · 1973

Cornelius v. Commissioner 58 T.C. 417 · 1972

Erickson v. Commissioner 56 T.C. 1112 · 1971

Modern Home Fire & Casualty Insurance v. Commissioner 54 T.C. 839 · 1970

Roob v. Commissioner 50 T.C. 891 · 1968

Plowden v. Commissioner 48 T.C. 666 · 1967

Smith v. Commissioner 48 T.C. 872 · 1967

Pollack v. Commissioner 47 T.C. 92 · 1966

Hoffman v. Commissioner 47 T.C. 218 · 1966

Dinkins v. Commissioner 45 T.C. 593 · 1966

Roschuni v. Commissioner 44 T.C. 80 · 1965

Duarte v. Commissioner 44 T.C. 193 · 1965